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Latvian Current Account Turns To Deficit In Q3

Latvia's current account slid to a deficit in the third quarter, data released by the central bank showed Friday.

The balance in the current account was a deficit of LVL 138.46 million or 3.8 percent of GDP in the third quarter. In the second quarter, the balance was a surplus of LVL 31.78 million or 0.9 percent of GDP, slightly down from the first quarter's surplus of LVL 33.15 million.

The deficit in the goods trade account widened to LVL 397.40 million in the third quarter from LVL 258.37 million in the previous quarter, while the deficit in the income account narrowed to LVL 57.80 million from LVL 85.88 million.

The current transfers account showed a surplus of LVL 87.70 million in the three-month period, lower than the preceding quarter's LVL 140.36 million surplus.

by RTT Staff Writer

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